James is acting for Chickens Pty Limited ('Chikenl') in the purchase of a chicken farm. The purchase
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Question:
James is acting for Chickens Pty Limited ('Chikenl') in the purchase of a chicken farm. The purchase price has been calculated based on an assumption that the profits will remain unchanged for the next 5 years. James's retainer is to advise on the contract terms.
Which is the most correct answer to this?
1. | James should advise his client only on legal issues, which does not include price. James should advise his client that he is confining his advice to legal issues. | |
2. | James should advise his client to pay less due to the risk that the law will change in a way that makes it more difficult for chicken farm to earn the same profits. |
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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